From riches to rags: Story of Venezuelan economy collapse

Collapsing from $121 billion to $48 billion during 2014-16, the oil-dependent revenue has molten down terribly for the country of Venezuela. This has been summed up by IMF as “one of the worst crisis in the world” in the past 50 years. Venezuela is all set to face a presidential election this Sunday, May 20th, and this will greatly impact the country’s future strategies in the oil and gas domain.